dwot (28.97)

They did this on purpose?

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Pimco’s Fed Focus by Paul McCulley for July 2001Paul McCulley: Show A Little Passion, BabyThe average American also owns a home. In fact, the home ownership rate in America is at a record high 68%. And while most of those homes are levered, there is room to lever them even more, from both a balance sheet and an income statement perspective, as shown in Figure 4. Most important, perhaps, valuation of homes - the price of a home divided by the shelter services that it provides - is secularly cheap, as shown in Figure 1 on the cover. There is room for the Fed to create a bubble in housing prices, if necessary, to sustain American hedonism. And I think the Fed has the will to do so, even though political correctness would demand that Mr. Greenspan deny any such thing (just like he denied belatedly attacking the NASDAQ bubble). So, while I may think Washington needs to put more Keynesian proof in the policy beverage it is serving, there is no question that Washington is pouring from the right decanter.

Corporate psychopaths, that's the only explanation that explains how they sleep at night.

Seriously, I saw a documentary that did brain scans that compared corporate executives to psychopaths and the same areas of the brain are under developed.

> Seriously, I saw a documentary that did brain scans that compared corporate executives to psychopaths and the same areas of the brain are under developed.

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Yes, I read something similar to that either in Economist or Nesweek. About 10% of the population has genetic make up where compassion and emotional relation to other people is supressed. I forgot what they were calling it. In the end these people have higher tendency being agressive and egoistical. Well, it also turns out they are more successful in politics and business. Hmm.